All Forum Posts by: Chris Leininger

What I am Looking For

I am looking for SFH or 2-8 MF with no rehab (DIY and cosmetic repairs okay). I will be living there initially, but am looking at a buy and hold strategy with the following minimum requirements (I use conservative inputs):

SFH: Cap rate of 2% and future long-term appreciation of 4%.

MF: Cap rate of 4% with 3% annual rent increase. 20% IRR on any value add investment.

Constraints

Financing: up to $40K cash for down. SFH: Shopping for second home w/ 10% down. MF: Searching for 90 LTV, open to seconds, owner finance, private money, etc. (definitely need assistance on the MF financing).

Requested Information

If you think you can help me, and would like to be my agent, please provide the following information:

List of all purchases and sales for the past 12 months, with asking and sales price, client contact info, and indicate if property was investment or personal use.

Years as full time agent in area.

Your availability and if you work directly or as a team; if as a team, please describe.

Any other information you would like to share or any questions you have for me.

Sincerely,

Chris Leininger

[email protected]

Hello,

I am looking at turnkey B/C multifamily (2-8 units) in DFW and am in need of lenders who can do LTV 80 with another lender doing 10. Can someone provide any recommendations or suggestions? I currently live in Austin. Thank you.

Sincerely,

Chris Leininger

That's the kind of information I was looking for. I was wondering if FNMA REO would operate by a different set of mandates or policies that would tilt in the buyer's favor during negotiations.

I noticed the seller agent listed extraordinarily high and has been steadily decreasing over the past 90 days. Would this explain why it hasn't closed? Austin metro is a seller's market and the home is in a modern subdivision. Do buyer agents typically steer consumers away from Homepath?

Do you know what the earnest money requirement is for FHA or Conventional?

 The amount they assumed the lender's mortgage for is 75% what the agent currently has listed it for. I want to know what motivations are at play because my analysis determines I can't purchase the property for more than what they paid for it. The property has been on the market for over 90 days.

I've noticed that Homepath does occassionally list desirable properties and I wanted to ask what people's experience has been with it, more specifically in regards to negotiations in a seller's market. I've noticed one property where their purchase price is 75% of what the agent is listing. Can I get them to accept an offer at their purchase price, or less? What forces are involved here?

I am currently strictly interested in $200+/door cash flow properties to own and manage, with high quality tenants in 1 year leases.

The property that drew my attention to West Gate is a Home Path four-door on W Wind Trail. I haven't analyzed it yet because I'm unfamiliar with rents, and I don't know enough about the area to commit living there for a year; the deal would have to be stellar. Either way, the analysis seems moot as it appears to have just gone under contract. 

Thank you for sharing though. It is definitely a seller's market for MF. Do you know of any traditionally undesirable neighborhoods that will gentrify in 10 years? I may be willing to buy and hold if the forecasting is spot on.

Thank you for sharing. The duplexes I was looking at were built in the 1950s and located on Estelle Ave.

I contacted the seller directly and the FSBOs were unavailable. He is a wholesaler from Austin who is now just trying to unload four SFHs in Killeen. He mentioned every SFH needed repairs; I'm assuming the duplexes did as well.

I've pivoted my attention away from Killeen since, but appreciate you taking the time to share your insight. Austin is a seller's market, so I occassionally find myself looking at deals beyond the metro area.

I'm interested investing in long-term multifamily rental in the West Gate area, and wanted to know what peoples' experiences and knowledge have been there. Any information relating to rents, tenant quality, vacancies, or any area idiosyncracies would be appreciated.

I'm interested in some older duplexes near Fort Hood as long-term rentals. Can someone with experience with comparable properties tell me what idiosyncracies I will encounter in the market?

Any information related to lease-breaking frequency, vacancy allowances, changes in housing demand and supply, now or in the future, would be appreciated.